Venture to bolster polyester in Europe
WILMINGTON, DEL. — DuPont has combined its European polyester holdings, including PET resin, into a joint venture with the polyester business of Turkish conglomerate Haci Omer Sabanci Holding AS of Istanbul.
The 50-50 venture, which is expected to have annual sales of $1 billion and to employ 4,500, plans to produce and market polyester filament, staple, resins, intermediates and related products throughout Europe, the Middle East and Africa.
The new firm's holdings will include DuPont's purified terephthalic acid and polyester resin site in Wilton, England, and Sabanci's resins and intermediates businesses at several sites in Turkey.
Sabanci has used DuPont polyester technology at its plants for more than 20 years. The firms also have operated a 50-50 venture in nylon yarn since 1987.
``We are confident that this new joint venture, which will be the largest and strongest fully integrated polyester business in Europe, is in the best interests of our customers and the marketplace,'' Eduard Van Wely, senior vice president of Wilmington-based DuPont, said in a news release.
Atlantic to increase its products, service
CHARLOTTE, N.C. — Atlantic Electric Systems plans to offer new products and services following its sale to Paul Boileau.
The Charlotte-based firm sells process-heating, temperature measurement and control products. Its product line includes heating elements, thermocouples, temperature controllers, hot-air tools and insulation systems.
Donna Butterworth retired as owner, but remains a consultant for the company. Boileau bought the firm in the third quarter of 1998. Terms were not disclosed.
Boileau is a former vice president of Rieter Corp.'s Pelletizing Machinery Division in Spartanburg, S.C. He has more than 20 years of experience in the plastics industry.
Atlantic Electric Systems employs five and has annual sales of about $2 million. Its 4,000-square-foot facility includes sales and support offices and warehouse space.
Mold maker Summit relocating in Idaho
POST FALLS, IDAHO — Summit Mold Inc. of Post Falls is moving seven miles to a new facility in late April. The mold-making firm invested $250,000 for land and the construction of a 5,400-square-foot building and more than $350,000 for new equipment.
Owners Richard Bruce, Ron Finnicum and Jack Glinski formed the business as a limited liability company in March 1997 and incorporated Summit in Idaho in early 1998. Until now, Summit had leased a 1,600-square-foot site.
Summit operates three Fadal computer numerically controlled machining centers and three electrical discharge machines, two from Pacific Controls and one from Hansvedt. The firm also has three Chevalier grinders, three Bridgeport mills and two Master Cam software licenses.
The operation specializes in hard-to-make tools of P20 and hardened steel for molding medical and computer components in the Pacific Northwest. The biggest job so far involved two molds, measuring 19 inches by 29 inches each, for a computer-system bezel and door.
Summit employs six and aims to add one or two people per year depending on market conditions. Bruce and Finnicum, previously with Accurate Molded Plastics Inc. in Coeur d'Alene, Idaho, deal with shop operations, and Glinski manages the office.
Cramped F&D moves to larger facility
LEOMINSTER, MASS. — F&D Plastics Inc. of Leominster is moving to a 27,000-square-foot facility, which is nearly four times the size of its present home.
The company, a producer of custom color concentrates, purchased the building for an undisclosed price. It currently runs five extrusion lines in a cramped, 6,400-square-foot building and is busy making alterations to its new home, which is about two miles away.
``The building we are in was primarily used for warehousing,'' said marketing director Darren Rosbury. ``The new building has really four segregated rooms — one of the rooms is airtight and will be used for the mixing. It will help keep things cleaner.''
He said the move will begin about mid-May and will be done during a two-month period to lessen customer disruption. F&D will add another extrusion line, as well as a production mixer.
Rosbury said the key to the expansion was the opening of sales offices in Atlanta and Southfield, Mich., in recent years. He said sales hit $6 million in fiscal 1998, and the company has served customers as far away as California, Mexico and Switzerland.
F&D Plastics Inc. is a private, family-owned operation. Roger J. Rosbury, Darren's father, is president, while his mother, Jeanne, is vice president of sales.